Is XRP ready to go parabolic after this indicator flashed green?
For the unfamiliar, a golden cross occurs when a short-term Moving Average crosses the long-term towards the upside. In most cases, the price of assets involved goes a long rally after the cross occurs.The analyst referred to the previous cycles when the same incident occurred with XRP. In 2017, when the golden cross happened, XRP went from exchanging hands at $0.24 in November to $2.09 by the end of the same year.
Three years later, the token rose from $0.32 in late 2020 to trade above $1 in early 2021. Because of this, the analyst opined that history could repeat itself and XRP could hit $9.around the $0.45 to $0.50 region. However, in the last 30 days, the token lost 10.49% of its value, implying a retracement from its impressive performance in some parts of the second quarter.
But, has this bullish signal sparked excitement among XRP traders? Well, information from Coinglass showed that traders were still skeptical about its price action.was 0.99. The ratio considers the number of long positions compared with the short positions in the market. A ratio above 1 suggests that there are more long positions than shorts. Conversely, when the ratio is below 1, it means short positionsTherefore, the XRP’s 24-hour long/short ratio at press time, indicated that traders were tightly locked between supporting an uptrend or a slide.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gatineau Park beach closed due to blue-green algaeA bloom of blue-green algae has forced the temporary closure of Breton beach at Philippe Lake.
Read more »
Morgan Pressel makes transition from 18th green to 18th tower for NBCThe trip to Pebble Beach completes a great three\u002Dweek stretch for women\u0027s golf.
Read more »
How Lido continues to see green despite the DeFi volatilityThe LSD sector continues to grow despite the volatility in the DeFi space. Lido takes the center stage with its impressive performance.
Read more »
Kate Middleton Is All Smiles As She Makes Surprise Wimbledon Appearance In Mint Green BlazerKate Middleton surprised Wimbledon fans on Tuesday. The Princess of Wales rocked a tennis chic look as she donned a mint green and white Balmain blazer, which she teamed with a white pleated skirt for her first appearance at this year's sporting event. Kate -- who is a patron of the All England Lawn Tennis…
Read more »
This Japanese river turned lime green, and nobody is sure whyIkoma city authorities in Western Japan are investigating to determine how the water of a river running through town has turned lime green, causing concerns among citizens.
Read more »
Breton Beach closed to swimming after blue-green algae spottedBlue green algae crops up at Breton Beach on Lac Philippe
Read more »